February 17, 2021

The COVID-19 pandemic has economically impacted many families through small business closures and job layoffs. The price of treating COVID-related illness has also negatively affected many Americans. One positive is that those with a health savings account (HSA) or healthcare flexible spending account (FSA) may be able to use these funds to cover COVID-related medical expenses. Here are a few helpful FAQs.

February 27, 2020

There's no "one-size-fits-all" when it comes to preparing taxes, but contributing to a Health Savings Account (HSA) won’t add much complexity to your tax situation. Tracking down the right forms is the best place to start.

November 25, 2019

You likely have a primary care physician and hospital relatively close by, but there may be times when you need to travel outside your local area to see a specialist for diagnosis and/or treatment. Medically related travel expenses can add up quickly, and your healthcare FSA or HSA can be used for many of them. What's eligible?

August 27, 2019

It's not uncommon for there to be multiple FSA accounts in a single household if the adults in the home each have one through their employer. Since an FSA lets you apply tax-free dollars towards eligible medical expenses, it makes sense financially for everyone in the family to take advantage of the benefit. But understanding how to manage FSA accounts with different employers can be confusing.

February 28, 2019

The IRS recently issued Information Letter 2018-0033, which expands the instances in which an employer can recoup HSA contributions it made on behalf of its employees. The letter confirms that where there is clear documentary evidence of an administrative or process error, the employer may request the return of the contributed amounts, with any correction making it as if the error had never occurred.